HDB resale prices in Singapore remained unchanged in March 2025 compared to the previous month, despite a notable decline in transaction volume, according to the latest 99-SRX Media Flash Report. The report highlights a 9.2% decrease in the number of resale flats sold, with 1,911 units transacted in March. This marks a 7.4% drop compared to the same period last year.
The report reveals that whilst prices in Mature Estates fell by 0.4%, Non-Mature Estates saw a 0.8% increase. In terms of room types, 3-room, 5-room, and Executive flats experienced price declines of 0.9%, 1.1%, and 2.4%, respectively, whereas 4-room flats saw a 1.1% price increase. Year-on-year, overall prices rose by 9.5%, with all room types recording increases from March 2024.
Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the dip in transaction volume might indicate a shift in market sentiment. “Buyers may be finding private resale and new launches more appealing, particularly with SORA-linked loans now offering more competitive rates,” he said.
The report also highlighted that 108 HDB resale flats were sold for at least S$1m in March, a decrease from 121 such transactions in February. The highest transacted price was S$1.5m for a 5-room flat at Pinnacle@Duxton.
As buyers continue to explore options in both public and private housing segments, the resale market may remain subdued unless significant changes occur in borrowing costs or government policy.
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